NEWS
Nigeria’s 64th Independence: Obi Urges Leaders To Ponder Contributions To Failures
The presidential candidate of the Labour Party in Nigeria’s 2023 election, Peter Obi has urged Nigerians, particularly the political class to take dedicate Nigeria’s 64th independence day to sober reflection, so as to help the country achieve her potentials.
He took to his verified handle on micro-blogging site, X, on Tuesday to assert that though Nigeria’s independence journey started on October 1, 1960, “the leaders, whose actions and inactions have contributed to the stagnation and glaring failures we are witnessing at present,” need to ponder.
Obi maintained that “We are also ranked among the most corrupt countries, and we are noted for our disregard for the rule of law.” He also observed that “Our nation continues its dangerous dance on the edge of a precipice.”
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According to him, “On this day, therefore, we must make a solemn commitment to build a nation that is truly independent from the state capture that has dragged it into failure and kept its people in suffering.”
Obi wrote, “Anniversary celebrations, whether for an individual or a country, offer opportunities to reflect on memories, celebrate accomplishments, look toward the future, and express gratitude.
“This is exactly what we are doing today as our dear nation marks its 64th independence anniversary.
“It is now 64 years since Nigeria took charge of its destiny and embarked on the journey toward development as a sovereign nation.
“Today is a day to appreciate God for abundantly blessing us with natural, human, and material resources to build a great nation.
“However, for me, this should also be a day of sober reflection for every Nigerian, especially for us, the leaders, whose actions and inactions have contributed to the stagnation and glaring failures we are witnessing at present.
“As the saying goes, an unexamined life is not worth living. We must, therefore, examine ourselves in the light of our nation’s journey over the past six decades.
“Have we lifted our people out of poverty, or have we driven more into it? Have we made education accessible to every Nigerian child, or have we allowed an army of over 18 million out-of-school children to roam the streets? Have we built a productive economy, or have we created a nation with the worst debt profile in its history?
“By every measure of development, from the critical areas to the smallest aspects, we are underperforming. We rank poorly in security and peacefulness, making us one of the most insecure nations globally.
“We are also ranked among the most corrupt countries, and we are noted for our disregard for the rule of law.
“Our nation continues its dangerous dance on the edge of a precipice.
“When we compare ourselves to countries that gained independence around the same time—before or after us—Nigeria stands out as a nation in decline, urgently in need of rescue from further decay.
“On this day, therefore, we must make a solemn commitment to build a nation that is truly independent from the state capture that has dragged it into failure and kept its people in suffering.
“We must create a nation free from tribal disunity and religious disharmony.
“We must build a New and Productive Nigeria that prioritizes the well-being of its citizens.
“That is the independence we should celebrate as a nation whose greatness remains POssible. -PO”
NEWS
N1.7trn Loan: Atiku Blames NASS For Worsening Nigeria’s Debt Burden
Former Vice President, Atiku Abubakar has criticized the federal government’s plan to secure an additional N1.7 trillion loan through Eurobonds to cover a shortfall in the 2024 budget, describing the borrowing as unsustainable and harmful to Nigeria’s economy.
In a statement shared on Thursday via his X (formerly Twitter) handle, Atiku accused the Bola Tinubu-led administration of burdening Nigerians with debt while failing to provide clear answers about the country’s fiscal challenges.
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He also faulted the National Assembly for enabling what he called a “voracious appetite” for loans.
The former Peoples Democratic Party (PDP) presidential candidate expressed alarm over a recent World Bank report ranking Nigeria as the third most indebted country to the International Development Association (IDA), calling the development troubling.
“The recent report released by the World Bank, showing Nigeria as the third most indebted country to the International Development Association (IDA), is very concerning,” Atiku stated.
He raised further concerns about the government’s decision to benchmark the proposed loan at an exchange rate of 1 USD to N800, despite the Central Bank of Nigeria’s official rate being over N1,600.
“What makes this particular loan proposal even more concerning is that it is benchmarked at the exchange rate of 1 USD to N800, whereas the current exchange rate from the Central Bank of Nigeria stands at over N1,600 to 1 USD,” he said.
Atiku questioned the need for additional borrowing, given the government’s earlier claims of record-high revenue collection.
“In July this year, Tinubu boasted that the FIRS and Customs under his watch had collected all-time high revenues to finance the budget. Why are they still borrowing?” he said
He accused the government of a lack of transparency, describing the borrowing spree as detrimental to Nigerians already struggling under economic hardship.
“There is something that they are not telling Nigerians, even as they are being crushed by a combination of their failed trial-and-error policies and loan rackets.”
Atiku also referenced a report by BudgIT, a budget monitoring group, which criticized the 2024 budget for its inefficiencies.
He alleged that corruption, rather than infrastructure or development needs, was driving the government’s borrowing decisions.
“These loans are powered by corruption and not for infrastructure and development needs. This voracious appetite for humongous loans is deeply concerning,” he said.
Reflecting on Nigeria’s financial history, Atiku lamented the return to significant foreign indebtedness just years after former President Olusegun Obasanjo’s administration cleared the country’s debt.
“It is agonizing to see that just a few years after the Obasanjo administration took us out of foreign indebtedness, we are today back at the top spot in the same conundrum,” he stated.
He called for a more cautious approach to borrowing, urging the government to prioritize fiscal responsibility and transparency to avoid worsening Nigeria’s economic challenges.
International News
ICC Issues Arrest Warrants For Israeli Prime Minister Netanyahu, Others
The International Criminal Court (ICC) has taken a historic step, issuing arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant.
The charges include crimes against humanity and war crimes allegedly committed during Israel’s recent assault on Gaza.
In a detailed statement, the ICC accused the Israeli leaders of “intentionally and knowingly depriving the civilian population in Gaza of objects indispensable to their survival, including food, water, and medicine and medical supplies, as well as fuel and electricity.”
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The ICC’s move marks a significant escalation in international scrutiny of the Israeli-Palestinian conflict. Netanyahu and Gallant are alleged to have orchestrated policies that caused severe harm to the civilian population in Gaza, leading to widespread condemnation from human rights organizations.
Alongside the charges against Israeli officials, the ICC also issued an arrest warrant for Hamas military commander Mohammed Deif. Deif has long been a central figure in Hamas’s military operations. Israel’s military claims to have killed him in a July airstrike, although this has not been independently verified.
The warrants highlight growing calls for accountability amid the ongoing conflict in the region. The ICC’s actions are likely to provoke heated debate and may complicate diplomatic efforts aimed at resolving the crisis.
With the warrants issued, global attention now turns to how the international community will respond and whether any practical steps will be taken to enforce them.
NEWS
Edo State Governor Sets Up Committee To Recover Missing Gov’t Vehicles
Governor Monday Okpebholo of Edo State has inaugurated a 12-member committee tasked with recovering government vehicles reportedly in private hands.
The committee, led by Kelly Okungbowa, has been given a two-week mandate to retrieve the vehicles and ensure their return to the state government.
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Speaking during the inauguration ceremony in Benin City, Governor Okpebholo emphasized the importance of accountability in the management of public resources.
He urged the committee to carry out its assignment thoroughly and within the bounds of the law.
In his response, Okungbowa expressed gratitude to the governor for entrusting the team with the assignment, vowing to deliver results within the stipulated timeframe.
“A lot of vehicles used by the past administration are missing, as those in custody of the vehicles have refused to return them,” Okungbowa said.
“The governor deemed it fit to inaugurate us today with a mandate to recover all government vehicles in private hands.”
The committee, which includes representatives from Edo’s three senatorial districts, is set to investigate and recover the vehicles based on credible intelligence already at their disposal.
“We already have vital information regarding some persons still holding government vehicles,” Okungbowa stated. “We will do the job according to the law, and both the government and the people will be satisfied with the outcome.”
He also called on members of the public to assist the committee by providing information about any government vehicles that may still be in private possession.
“We want to appeal to members of the public who might be aware of anyone still keeping government vehicles in their houses to please inform us to enable the committee to recover such for the Edo State Government,” Okungbowa said.
The committee’s vice chairman, Rt. Hon. Victor Edoror, a former Speaker of the Edo State House of Assembly, will work alongside other members to ensure the success of the initiative. The public can reach the committee at 08110165121.